Czech Coal Extends Offer Date for CEZ’s Pocerady Power Plant

Jun 28, 2017

Energy group Czech Coal has extended its 10 billion crowns ($420 million) offer to buy the Pocerady coal-fired power plant from Czech utility CEZ, according to Reuters, giving more time for the deal to overcome state objections. Majority state-owned CEZ’s supervisory board will discuss the sale of the 1,000-megawatt plant to its rival after putting off a decision last month despite Czech Coal setting an end of April deadline for its offer terms.

CEZ is looking to sell Pocerady to reduce its coal-fired generating capacity and to focus on refurbished plants that emit lower emissions. It has an option to sell to Czech Coal in the future but the group, owned by Pavel Tykac, wants to buy now to begin modernization work.

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